AXA IM to increase private market offering with new business unit

AXA IM is looking to create a new business unit, AXA IM PRIvate Markets Enabler, as it eyes up more private market products. 

The new business unit would "gather indirect alternative investment expertise" such as primary and secondary private equity, infrastructure, general partnership minority stake, private debt and more.

AXA Group said the current assets under management in this area stood at €20bn as at the end 2021, 12 of which were managed by AXA IM.

The unit, which is shortened to be called AXA IM Prime, will be led by Pascal Christory, the AXA group chief investment officer. He will join the AXA IM management board and report to executive chair Marco Morelli (pictured).

Four AXA Group investment professionals, who are currently leading infrastructure, private equity and private debt, will join the department as heads of the different businesses.

AXA Group entities are expected to be "substantial cornerstone investors" in funds launched by the new unit.

Morelli said the new business unit "would benefit from the ESG expertise, scale, operating model and organisation of AXA IM to accelerate its growth".

"It would complement the solid direct alternative investment offer we already provide to our clients through AXA IM Alts, for which we continue to have extensive development goals across our geographies."